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Representatives of the
Global Jubilee Debt Relief Coalition visited the Vatican in Rome last month to
discuss what to do about the global debt crisis. High and surging debt levels
are causing economic and developmental problems once again. This time it’s a
problem affecting every region of the world. The ethical dynamite of the ‘who
owes whom and what and why’ is dividing humanity into creditors and debtors. A
new Jubilee is long overdue.
Breaking the chains of debt
The Bible’s Old
Testament describes a practice from the ancient world that could well be the
world’s first insolvency regime. Every seven years, slaves and prisoners were
to be freed, and debts were to be forgiven. This seventh year is called the
Jubilee. Photo: The Jubilee delegation with Cardinal TurksonThe ...